World of Real Estate Journal 93 (3/2015) - Table of Contents

MARKET

1. Adam Czerwiński, Daniel Rodzeń - The Use of the TDABC Method to Determine the Costs of Information Activities on the Example of Buyers on Real Estate Markets

REAL ESTATE MANAGEMENT

2. Anna Trembecka - An Analysis of Zoning Fees Associated with the Adoption of Zoning Plans in the Municipality of Cracow
3. Anna Jędrzejko, Maciej W. Wierzchowski - Changes in Land Use in Selected Cities of the Silesian Agglomeration in the Years 2005-2011
 
HOUSING

4. Stanisław Belniak - Social Housing in Cracow in the Years 2007–2013
5. Agnieszka Szczepańska - Residential Premises in Prefabricated Panel Housing: Trends on the Real Estate Market Exemplified by Olsztyn

FINANCE

6. Piotr Kasprzak - Spanish SOCIMI (REIT) Funds and Efficiency of the Real Estate Capital Market
7. Michał J. Kowalski, Janusz Nesterak - Dilemmas in Value Based Management in Real Estate Development Companies

INWESTMENTS

8. Jarosław Szreder - Success Factors in Land Development Investments

CHANGES IN REAL ESTATE LAW

9. Maciej J. Nowak - Ustawa krajobrazowa DOWNLOAD

CONFERENCES

10. Joanna Węgrzyn - XXII Conference of European Real Estate Society (ERES) (Turcja, Istambuł, 24-27 June 2015) DOWNLOAD
11. Joanna Węgrzyn - ERSA/ERES Summer School (Austria, Wiedeń, 5-14 July 2015) DOWNLOAD
 
IN PUBLISHING MARKET

12. Agnieszka Chmarzyńska - „Poradnik dla zarządcy budynku biurowego” – Poltext Publishing House Offer DOWNLOAD

SUMMARIES

Adam Czerwiński, Daniel Rodzeń - The Use of the TDABC Method to Determine the Costs of Information Activities on the Example of Buyers on Real Estate Markets

In this study, to estimate the costs of information activities for buyers on real estate markets the TDABC method was used. The application of this method enables the measurement of the differences resulting from different variants of the course of action in the process of acquiring rights to the property, expressed by means of time and cost. In order to visualise the information activities of buyers, an algorithm in the form of a flowchart was used. The algorithm includes the characteristics of variables (so-called medium activities) and the descriptions of basic information activities carried out by the buyer. The descriptions of the activities were expanded to include variables which have a direct impact on the time of their implementation, as well as the average time of their implementation, the values of which were estimated on the basis of experimental studies and surveys.
An important element of this study is to formulate an equation of time for any process resulting from ongoing activities leading to the acquisition of rights to the property.

Keywords: costs, information activities, buyer, real estate market, Time-Driven Activity Based Costing method

JEL Classicication: D11, D61, D82

Citation (APA): A., Rodzeń, D. (2015). Zastosowanie metody TDABC do określenia kosztów działań informacyjnych na przykładzie nabywców na rynkach nieruchomości. Świat Nieruchomości, (3(93)), 5-12.

DOI: 10.14659/worej.2015.93.01

Anna Trembecka - An Analysis of Zoning Fees Associated with the Adoption of Zoning Plans in the Municipality of Cracow

The adoption of a zoning plan or any change to it may result in an increase or a decrease in the value of real estate. In the case of increased property values, the Law on Spatial Planning and Development provides for a possibility for zoning fees to be determined by municipalities. The research thesis of the article is the statement that planning fees are not fully enforced due to property owners appealing against the decisions on establishing the fees. This paper aims to analyse the scope of the adopted local zoning plans in Cracow as well as zoning fees, charged relative to the increase in real estate value.

Keywords: zoning fees, zoning plan, increase in real estate value

JEL Classicication:
R52

Citation (APA):
Trembecka, A. (2015). Analiza opłat planistycznych związanych z uchwaleniem planów zagospodarowania przestrzennego na terenie Krakowa. Świat Nieruchomości, (3(93)), 13-18.

DOI:
10.14659/worej.2015.93.02

Anna Jędrzejko, Maciej W. Wierzchowski - Changes in Land Use in Selected Cities of the Silesian Agglomeration in the Years 2005-2011

The main objective of the European cohesion policy is the convergence of the Member States, enabling civilization advancement of less developed regions. In the implementation of this kind of policy the rational use of land plays an important role. The National Spatial Development Concept 2030 assumes that the determinant of the living conditions of citizens and the local and regional development is to restore and preserve the spatial order. An interesting example enabling the realisation of such a goal is to determine the functional area at the junction of three cities: Chorzów, Ruda Śląska and Świętochłowice. This area is characterised by a similar industrial history, analogous internal (e.g. social) and external (e.g. transport) conditions, which supports the idea of undertaking joint ventures related to the rational use of land.

Keywords: land use, functional area, integration of cities

JEL Classicication:
R14

Citation (APA):
Jędrzejko, A., Wierzchowski, M.W. (2015). Przemiany użytkowanie gruntów w wybranych miastach aglomeracji górnośląskiej w latach 2005-2011. Świat Nieruchomości, (3(93)), 19-28.

DOI:
10.14659/worej.2015.93.03

Stanisław Belniak - Social Housing in Cracow in the Years 2007–2013

The paper attempts to describe the issues related to the phenomenon of social housing in Poland. The projects launched in the years 2007 -2013 by Cracow Municipality have been used to illustrate that problem. In the studied period, the housing resources of Cracow Municipality were constantly shrinking. It should be said that the technical condition of those resources was also deteriorating. The paper highlights the objectives set for the management of the housing stock of Cracow Municipality as stipulated by the Great Financial Forecast for Cracow Municipality till 2033,which was set to fend off the negative tendencies which emerged within that period.

Keywords: social housing, Cracow Municipality, management of housing stock

JEL Classicication:
R21, R31

Citation (APA):
Belniak, S. (2015). Budownictwo mieszkań socjalnych w Krakowie w latach 2007-2013. Świat Nieruchomości, (3(93)), 29-34.

DOI:
10.14659/worej.2015.93.04

Agnieszka Szczepańska - Residential Premises in Prefabricated Panel Housing:Trends on the Real Estate Market Exemplified by Olsztyn

Most transactions on the secondary real estate market, in the segment of residential premises, are premises in prefabricated panel housing. This type of residential development is the heritage of the architectural accomplishments of the post-war period, continued until the 1990s. It is estimated that premises of this type constitute approx. 30% of all residential resources in Poland and therefore are an important component of the local real estate market. The article presents an analysis of the real estate market in the segment of residential premises in prefabricated panel housing in the area of Olsztyn in comparison with general trends on the local real estate market. The analysis refers to the two largest housing estates – Jaroty and Pojezierze. The study covers the period of 2005–2014.

Keywords: prefabricated panel housing, residential premises, real estate market

JEL Classicication:
R21, R31

Citation (APA):
Szczepańska, A. (2015). Lokale mieszkalne w budownictwie prefabrykowanym wielkopłytowym na rynku nieruchomości miasta Olsztyna. Świat Nieruchomości, (3(93)), 35-40.

DOI:
10.14659/worej.2015.93.05

Piotr Kasprzak - Spanish SOCIMI (REIT) Funds and Efficiency of the Real Estate Capital Market

Broadly understood market efficiency is defined in various ways. A market which is efficient from the point of view of allocation offers a possibility to raise capital to those participants who guarantee the highest rate of return on the investments made. A market which is efficient from the transactional point of view offers fast access to it and low cost of transactions. On a market efficient in the informational sense, the prices of assets fully reflect available information on them. The real estate private investment market is imperfect,inflexible, unorganized and inefficient. To make the real estate market attractive to investors, on developed financial markets legislators allow the functioning of specialist funds of REIT type. They are an example of advisedly applied economic policy which, for example, provides for the reduction of tax burdens upon the fulfillment of specific requirements to meet an economically significant function.
When observing the Spanish real estate market in crisis, we can notice changes in respect of information efficiency of indirect investment market, arising from the introduction of SOCIMI funds to the capital market. A qualitative analysis of this programme enables the verification of the research hypothesis that the introduction of REIT type funds to the capital market improves the effectiveness of this market. An additional premise to write this article is to start a discussion on the possibility to implement analogous solutions in Poland, with the expectation of positive effects of their introduction.

Keywords: real estate market, REIT, SOCIMI, Spanish real estate investment funds, EMH

JEL Classicication:
G14

Citation (APA):
Kasprzak, P. (2015). Hiszpańskie fundusze SOCIMI (REIT) a efektywność informacyjna pośrednich inwestycji rynku nieruchomości. Świat Nieruchomości, (3(93)), 41-48.

DOI:
10.14659/worej.2015.93.06

Michał J. Kowalski, Janusz Nesterak - Dilemmas in Value Based Management in Real Estate Development Companies

The aim of this article is to analyse some aspects of Value Based Management in real estate development companies. The subject of this analysis will be the impact of the applied rules for income and expenses on the measurement of values. This analysis was carried out in order to make sure that these measurement methods would be consistent with the creation of values. This will ensure that measurement results can be used in management systems. The authors developed correction templates that can help to measure values using the residual income. This article discusses the simulation of measurement values and the proposed approach of the SPV (Special Purpose Vehicle/Entity) which carry out real-estate development projects.

Keywords: Value Based Management, value based controlling, real estate sector

JEL Classicication:
  G32

Citation (APA):
Kowalski, M.J., Nesterak, J. (2015). Dylematy zarzadzania wartością w przedsiębiorstwie deweloperskim. Świat Nieruchomości, (3(93)), 49-54.

DOI:
10.14659/worej.2015.93.07

Jarosław Szreder - Success Factors in Land Development Investments

This article focuses on a discussion on the selected aspects of a land developer’s activities. The purpose is the presentation and an analysis of key factors influencing the success of land development projects. The initial part of the article is the presentation of a model of the development process structure - the type of land development. After the presentation of the structure of tasks occurring in the transformation of this type, the author concentrates on discussing the fundamental factors affecting the success in implementing such projects. Due to the fact that the author has been professionally engaged in executing such projects for 15 years, he based his deliberations on 16 operations of land development type which were carried out successfully.

Keywords: land development projects, success, real estate, developer

JEL Classicication:
K11

Citation (APA)
: Szreder, J. (2015). Czynniki sukcesu w inwestycjach typu land development. Świat Nieruchomości, (3(93)), 55-60.

DOI:
10.14659/worej.2015.93.08

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